U.S. durable goods orders showed a slim rise in November but fell short of economists' expectations.
Orders for durable goods — products expected to have a lifespan of at least three years — rose by 0.1 per cent last month, the U.S. Commerce Department said Thursday.
Economists had been expecting an increase of 2.2 per cent for the month.
Despite missing the forecast of market watchers, the November durable goods report marked the first time in four months that orders have increased. In October, orders declined by 0.4 per cent.
The U.S. economy has been hurting in recently months from fallout in the housing market. Growth for the last quarter of 2007 and early 2008 is expected to be quite low.
More Money Headlines »
- Loonie slumps on feeble jobs report
- The Canadian economy shed jobs for the first time in eight months in December, sending the Canadian dollar to a loss of more than one cent.
- Gold tops $900 US an ounce as U.S. recession fears grow
- Gold prices topped $900 US an ounce for the first time ever on Friday as investors flocked to what is increasingly seen as a safe haven for their money.
- Trade surplus rebounds in November
- Canada's trade surplus increased in November to $3.7 billion as the country's exports of merchandise ended a three-month skid.
- Retailers report mixed holiday season
- Sports retailers West 49 Inc. on Friday reported weaker holiday sale in what has been a mixed season for retailers.
- Economy, industry to dominate premiers' meeting
- The economy and help for industries struggling with the high dollar are expected to dominate talks at Stephen Harper's meeting Friday with Canada's premiers and territorial leaders.
Blog Watch
Most Blogged about CBC.ca Articles